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Thread: how is that bitcoin thing going?

  1. #1
    Administrator jimmy [/b]'s Avatar
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    how is that bitcoin thing going?

    we had that stupid fat faggot on here who was well up for the bitcoin. it hasn't crashed yet so he might be (temporarily?) rich.

    any boffins out there know what's going on? i just assumed it was going up and up for an almighty fucking crash a bit later.

    anyone know anything about that crap?
    'Shut your faggot mouth boy. You have no clue as to who the fuck you are addressing.'

  2. #2
    Administrator Lem's Avatar
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    i posted about this the other day....i made a bit.

    buy coins on coinbase. hold. wait a decade or two. retire. might still be possible. if i actually gave lock that 10k or whatever in bitcoins hed have a lot of money right now.

  3. #3
    Obese Mode T IV's Avatar
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    i'm just waiting for someone to figure out how to steal the shits. gonna be hard to find someone who just stole millions of dollars in untraceable bitcoins.

  4. #4
    Ronald McDonald Fists of Palm's Avatar
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    Yeah, it's happened. I'm decent when it comes to cyber-security - I use a VPN and Nord - but I don't have the skills (or the money) to take care of a Bitcoin supply. I know there are services where you can buy Bitcoin, and they'll hold onto it for you, but then again, no money.
    -Inventor of the penis enlargement pill

  5. #5
    Administrator Lem's Avatar
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    Quote Originally Posted by T IV View Post
    i'm just waiting for someone to figure out how to steal the shits. gonna be hard to find someone who just stole millions of dollars in untraceable bitcoins.
    no, they aren't untraceable. in fact bitcoin is a totally open ledger. you can see all transaction history and full contents and history of wallets. you can literally download the entire history of bitcoin by downloading the blockchain. I had to do that the other day to open a paper wallet I made in 2011. The way you hide bitcoins is by running them through a tumbler. Basically imagine taking your bitcoins and chopping them up into small denominations and then executing a dizzying amount of bullshit transactions in an attempt to obscure where the final destination is. My understanding is they can be unraveled but it can be quite intensive.

    there are lots of bitcoin scams but they usually involve getting peoples private keys and thus getting access to the wallet, or more sophisticated shit like pump and dump schemes that work on bitcoin markets because they are unregulated. imagine stock market schemes from 1910, shit like that.

  6. #6
    Administrator Lem's Avatar
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    Quote Originally Posted by Fists of Palm View Post
    Yeah, it's happened. I'm decent when it comes to cyber-security - I use a VPN and Nord - but I don't have the skills (or the money) to take care of a Bitcoin supply. I know there are services where you can buy Bitcoin, and they'll hold onto it for you, but then again, no money.
    You think this is complex when it's anything but.

    You don't have to "take care" of anything. It's trivial to download your coins to your own wallet and then create a backup. i.e. i made a wallet using Armory and then moved coins to it a long time ago. I then stored an image just like this in my dropbox:


    When bitcoin shot back up recently I recovered the wallet on my desktop then transfered the coins to coinbase. coinbase is connected to my bank account, which is how I move between bitcoin and USD. You can also just leave coins on coinbase. the only risk there is if the site goes kaput i would doubt you'd get your coins back, although you still probably would. the real place not to leave coins is on an exchange.

  7. #7
    HIGH ENERGY Harry Lime's Avatar
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    "My own .50 cal cawk." -Constantine bragging about his half inch dick.

    "I was at my peak and had at least 60lbs on her. i started it not wanting to bash her; she tore into me like she wanted me dead. didn't dismantle me entirely, but out-punched me, out-boxed me, surprised me and embarrassed me." -Jimmy β

  8. #8
    Administrator Lem's Avatar
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    really, if you're interested in how it works under the hood read the .pdf by satoshi. https://bitcoin.org/bitcoin.pdf

  9. #9
    HIGH ENERGY Harry Lime's Avatar
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    LOL at Jimmy reading that.
    "My own .50 cal cawk." -Constantine bragging about his half inch dick.

    "I was at my peak and had at least 60lbs on her. i started it not wanting to bash her; she tore into me like she wanted me dead. didn't dismantle me entirely, but out-punched me, out-boxed me, surprised me and embarrassed me." -Jimmy β

  10. #10
    Administrator jimmy [/b]'s Avatar
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    haha
    'Shut your faggot mouth boy. You have no clue as to who the fuck you are addressing.'

  11. #11
    Administrator Lem's Avatar
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    its 9 god damn pages with huge margins. the math part may be nonsebsical to some but the rest is something a high school student could easily grasp.

    you can do it jimmy.

    some more reading for those who have the capacity: http://web.cs.ucdavis.edu/~rogaway/papers/moral.html

  12. #12
    Administrator jimmy [/b]'s Avatar
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    9 pages. are you kidding me? basically i want to know how likely it is that stealth will lose all his money, and that's it.
    'Shut your faggot mouth boy. You have no clue as to who the fuck you are addressing.'

  13. #13
    Administrator Lem's Avatar
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    not likely at all. the likely thing is that he would lose access to the coins through incompetence or hardware failure and no proper backups. that's if he held onto his coins.

  14. #14
    Administrator Lem's Avatar
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    i know a doctor who makes more in bitcoin than practicing medicine. of course, he got coins when they were 12 dollars per.

  15. #15
    Administrator jimmy [/b]'s Avatar
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    lucky fucker - and thank you, perfect explanation x
    'Shut your faggot mouth boy. You have no clue as to who the fuck you are addressing.'

  16. #16
    Ronald McDonald Fists of Palm's Avatar
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    Stealth can't even hang onto his kids. How's he going to keep track of Bitcoins?
    -Inventor of the penis enlargement pill

  17. #17
    Quote Originally Posted by Fists of Palm View Post
    Stealth can't even hang onto his kids. How's he going to keep track of Bitcoins?
    Dayumn...

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